Welcome to our dedicated page for Runway Growth Finance news (Ticker: RWAY), a resource for investors and traders seeking the latest updates and insights on Runway Growth Finance stock.
Runway Growth Finance Corp. (Nasdaq: RWAY) is a specialty finance company dedicated to providing senior secured loans to high-growth-potential companies across a variety of industries including technology, life sciences, healthcare information and services, business services, and select consumer services and products. The company leverages its capital, as well as relationships and expertise, to help dynamic companies achieve their fullest potential.
Founded in 2015 and managed by Runway Growth Capital LLC, an established registered investment advisor led by industry veteran David Spreng, Runway Growth is a closed-end investment fund regulated as a business development company under the Investment Company Act of 1940. With a robust portfolio primarily concentrated in the United States, but also featuring investments in Germany and Canada, Runway Growth focuses on late- and growth-stage businesses that seek an alternative to raising equity.
Runway Growth's recent achievements include a strategic joint venture with Cadma Capital Partners LLC to form Runway-Cadma I LLC, aimed at financing private and sponsor-backed late- and growth-stage companies with a financing capacity of up to $200 million. This collaboration is set to enhance asset origination and deliver quality returns while maintaining excellent credit quality.
In 2023, Runway Growth reported a total investment income of $39.2 million for the fourth quarter, compared to $36.5 million in the same period in 2022. Despite a challenging economic environment, the company maintained industry-leading credit quality and expanded its return on equity by 33 basis points. As of December 31, 2023, the company's investment portfolio had an aggregate fair value of approximately $1.0 billion.
Looking ahead, Runway Growth continues to focus on prudently deploying capital to support high-quality, late-stage companies. With approximately $319.9 million in available liquidity as of March 31, 2024, the company is well-positioned to execute against its long-term growth strategy and deliver sustainable shareholder value.
Runway Growth's commitment to providing flexible capital solutions is underscored by its disciplined approach to portfolio management and consistent partnership with borrowers. The company’s leadership in the venture debt ecosystem and strategic growth initiatives make it a significant player in the specialty finance sector.
Runway Growth Finance Corp. (RWAY) reported a record total investment income of $19.3 million for Q1 2022, with net investment income of $12.5 million or $0.30 per share. The investment portfolio grew to $754.3 million. The portfolio's dollar-weighted yield on debt investments was 12.2%. A second-quarter dividend of $0.30 per share was declared, up 11% quarter-over-quarter. The company also improved its core leverage ratio to 26.1%.
Runway Growth Finance Corp. (Nasdaq: RWAY) has declared a cash distribution of $0.30 per share for Q2 2022, reflecting an 11.0% increase from the preceding quarter. The record date is set for May 10, 2022, with payments scheduled for May 24, 2022. The company plans to distribute substantially all available earnings quarterly, offering an opt-out dividend reinvestment plan for stockholders. Runway Growth operates as a specialty finance company, assisting late- and growth-stage companies in securing capital.
Runway Growth Finance Corp. (RWAY) will release its Q1 2022 financial results on May 5, 2022, after market close. The subsequent conference call is scheduled for 3:00 p.m. PT (6:00 p.m. ET), accessible by dialing (844) 467-7753 and referencing conference ID 5457314. Runway Growth specializes in providing flexible capital solutions to late- and growth-stage companies seeking alternatives to equity financing. The company is externally managed by Runway Growth Capital LLC and operates as a business development company under the Investment Company Act of 1940.
Runway Growth Finance Corp. (RWAY) announced significant portfolio developments for Q1 2022, completing seven investments worth $135 million. This includes key loans to Mustang Bio and Revelle Aesthetics. Total commitments now reach $1.6 billion, with $1.3 billion funded since inception. The company suggests a growing trend toward debt funding among growth-stage firms as equity valuations decline. Additionally, Runway Growth reported liquidity events totaling $10.5 million, enhancing its financial position amidst market uncertainties.
Runway Growth Capital has closed a $25 million senior secured term loan for Revelle Aesthetics, aimed at supporting the manufacturing and commercialization of Avéli™, a new cellulite reduction device. The funding will bolster Revelle's marketing campaigns to enhance consumer awareness in a competitive yet recession-resistant medical aesthetics market. Revelle's device is FDA-cleared and targets a significant market segment focused on women's aesthetic needs. This partnership reflects a strategic move towards non-dilutive financing, allowing Revelle to maintain its capital structure while promoting its innovative product.
Runway Growth Finance Corp. (RWAY) reported a fourth-quarter net investment income of $10.9 million, equating to $0.28 per share, during fiscal year 2021. The annual investment income reached $71.4 million with a net asset value (NAV) of $606.2 million as of December 31, 2021. The company originated a record $216 million across six investments in Q4, contributing to a total investment portfolio of $729.5 million. The debt-to-equity leverage ratio improved to 13.4%. Additionally, the company announced an 8% increase in quarterly dividends to $0.27 per share for Q1 2022.
Runway Growth Finance Corp. (RWAY) has declared a Q1 2022 cash distribution of $0.27 per share, marking an 8.0% increase from the previous quarter. The declaration date was February 24, 2022, with the record date set for March 8, 2022, and payments scheduled for March 22, 2022. The company aims to distribute substantially all available earnings quarterly, subject to board discretion. Additionally, Runway Growth offers a dividend reinvestment plan for shareholders who do not opt-out, allowing automatic reinvestment of dividends into additional shares.
Runway Growth Capital LLC announced a term loan commitment of $13 million to Dejero, a telecommunications company specializing in diverse connectivity solutions. This loan marks Dejero's return to the Runway portfolio, reinforcing Runway's commitment to support its growth. Dejero aims to enhance its product offerings and availability through this funding. Both companies express confidence in the partnership, highlighting Dejero's strategic importance in the 5G and cloud connectivity market.
Runway Growth Finance Corp. (Nasdaq: RWAY) has successfully completed the second closing of a private placement of 4.25% Series 2021A Senior Notes due 2026, totaling $50 million, bringing the total raised to $70 million. The notes will mature on December 10, 2026, and interest is payable semiannually. The proceeds will be used to repay debt and for general corporate purposes. These notes are offered only to institutional accredited investors and have not been registered under the Securities Act.
Runway Growth Capital has finalized a $30 million senior secured term loan to EPIC IO Technologies, a leader in Big Data solutions utilizing AI and IoT. This move reflects increasing demand for growth financing from established firms. Mark Donnelly, Managing Director at Runway, noted the strong market fit of EPIC IO, while CEO Ken Mills emphasized the capital's role in advancing their mission in the IoT sector. The partnership aims to enhance EPIC's platform and growth in a rapidly evolving tech landscape.
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What is Runway-Cadma I LLC?
